titan: Titan completes exit from Montblanc JV

NEW DELHI: Tata group agency Titan on Friday stated it has accomplished its exit from three way partnership Montblanc India Retail, which operates retail boutiques within the nation for Montblanc merchandise. Final yr on October 8, Titan had introduced its exit from the five-year three way partnership with the luxurious agency.

“… we hereby inform you that, on 12th March 2021, the Firm has accomplished its exit from Montblanc India Retail Non-public Restricted (MB India). Consequently, MB India ceases to be an affiliate/ JV Firm of the Firm with impact from March 12, 2021,” Titan stated in a regulatory submitting.

Titan held 49 per cent fairness stake in Montblanc India Retail Non-public Restricted.

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